Wellington Management Group LLP Purchases 3,815,520 Shares of Tractor Supply Company $TSCO

Key Points

• Wellington Management Group LLP increased its stake in Tractor Supply Company by 16.0%, now owning 27,604,769 shares, valued at approximately $1.52 billion.
• Tractor Supply reported a 4.5% year-over-year revenue growth for the quarter, with earnings per share of $0.81, surpassing estimates.
• The company has announced a quarterly dividend of $0.23 per share, with a payout ratio of 45.10%, and a dividend yield of 1.5%.

Wellington Management Group LLP lifted its position in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 16.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,604,769 shares of the specialty retailer's stock after purchasing an additional 3,815,520 shares during the quarter. Wellington Management Group LLP owned about 5.19% of Tractor Supply worth $1,521,023,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Wedmont Private Capital lifted its position in shares of Tractor Supply by 2.5% in the first quarter. Wedmont Private Capital now owns 8,714 shares of the specialty retailer's stock worth $450,000 after buying an additional 212 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in Tractor Supply by 30.1% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 920 shares of the specialty retailer's stock worth $51,000 after buying an additional 213 shares during the last quarter. Independent Wealth Network Inc. boosted its holdings in Tractor Supply by 5.2% in the 1st quarter. Independent Wealth Network Inc. now owns 4,335 shares of the specialty retailer's stock worth $239,000 after buying an additional 215 shares during the last quarter. GW&K Investment Management LLC raised its position in shares of Tractor Supply by 89.3% during the 1st quarter. GW&K Investment Management LLC now owns 479 shares of the specialty retailer's stock valued at $26,000 after buying an additional 226 shares during the period. Finally, Assetmark Inc. raised its position in shares of Tractor Supply by 21.2% during the 1st quarter. Assetmark Inc. now owns 1,331 shares of the specialty retailer's stock valued at $73,000 after buying an additional 233 shares during the period. Hedge funds and other institutional investors own 98.72% of the company's stock.

Tractor Supply Stock Up 1.3%

Tractor Supply stock opened at $60.49 on Monday. The firm has a market cap of $32.06 billion, a PE ratio of 29.68, a P/E/G ratio of 3.11 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 1.28. The firm's 50 day moving average price is $56.02 and its two-hundred day moving average price is $53.76. Tractor Supply Company has a twelve month low of $46.85 and a twelve month high of $63.99.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The specialty retailer reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.01. The firm had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.40 billion. Tractor Supply had a net margin of 7.18% and a return on equity of 46.83%. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.93 EPS. On average, research analysts predict that Tractor Supply Company will post 2.17 EPS for the current fiscal year.

Tractor Supply Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Monday, August 25th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, August 25th. Tractor Supply's payout ratio is presently 45.10%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TSCO. Robert W. Baird boosted their target price on Tractor Supply from $56.00 to $61.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Wall Street Zen raised shares of Tractor Supply from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. JPMorgan Chase & Co. raised their target price on shares of Tractor Supply from $56.00 to $65.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Piper Sandler lifted their price target on shares of Tractor Supply from $66.00 to $67.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Finally, Citigroup decreased their price objective on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $61.80.

Insiders Place Their Bets

In other news, CFO Kurt D. Barton sold 90,000 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $63.96, for a total transaction of $5,756,400.00. Following the transaction, the chief financial officer owned 47,715 shares of the company's stock, valued at approximately $3,051,851.40. This represents a 65.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Colin Yankee sold 6,680 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $58.40, for a total value of $390,112.00. Following the transaction, the executive vice president directly owned 40,142 shares in the company, valued at approximately $2,344,292.80. This represents a 14.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 204,680 shares of company stock worth $12,071,552 in the last 90 days. 0.65% of the stock is owned by corporate insiders.

Tractor Supply Profile

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers various merchandise, including livestock and equine feed and equipment, poultry, fencing, and sprayers and chemicals; food, treats, and equipment for dogs, cats, and other small animals, as well as dog wellness products; seasonal and recreation products comprising tractors and riders, lawn and garden, bird feeding, power equipment, and other recreational products; truck, tool, and hardware products, such as truck accessories, trailers, generators, lubricants, batteries, and hardware and tools; and clothing, gift, and décor products consist of clothing, footwear, toys, snacks, and decorative merchandise.

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